The Present Status on Brexit Deal

Almost everyone around the word has heard about the Brexit deal. And for those unaware of it, let me break down it for you. It’s a referendum, impending withdrawal of the United Kingdom (UK) from the European Union (EU). Hold on a second, it’s not only this; there are other aspects of the deal as well. People is the last few months have realized that maybe the referendum signed two and a half years ago was not a good one. Britain leaving EU could prove to be fatal for the four countries that form the United Kingdom. In this article we will check out a few aspects about the Brexit deal.

The Present Status on Brexit Deal
Almost everyone around the word has heard about the Brexit deal. And for those unaware of it, let me break down it for you. It’s a referendum, impending withdrawal of the United Kingdom (UK) from the European Union (EU). Hold on a second, it’s not only this; there are other aspects of the deal as well. People is the last few months have realized that maybe the referendum signed two and a half years ago was not a good one. Britain leaving EU could prove to be fatal for the four countries that form the United Kingdom. In this article we will check out a few aspects about the Brexit deal.

The UK joined the European Communities (EC) in 1973 under the Conservative government of Edward Heath. Now, two and a half years ago David Cameroon called a referendum to leave the EU. On 23 June 2016 51.9% of the voters chose to leave the EU. UK and EU agreed for a negotiation time for negotiating a withdrawal Agreement, The UK is due to leave the EU on 29 March 2019 at 11 pm UK time, when the period for negotiating a Withdrawal Agreement will end unless an extension is agreed.

UK was to leave the EU in orderly stages, since 2016 UK was in a transition period as the UK government was negotiation its future relations with the EU before leaving. Teresa May became the Prime Minister in 2017 and she spent almost two years formulating the terms with the EU after the exit. But when she presented the Draft Withdrawal Agreement on 15 January 2019 in the Parliament, the House of Commons voted 432 to 202 against the deal, the largest parliamentary defeat in history for a sitting UK government.

UK is set to leave the EU next month and now the transition deal by Teresa May has been rejected putting UK in a worst case scenario, its UK leaving the EU with no transition plan that is the ‘no-deal’ scenario. There are many reasons why the parliament rejected May’s deal; Northern Ireland shares a border with Ireland, so after UK’s exit, easy movement of goods and people across the borders would come to an end, plus there is sectarian violence around that border making the deal lethal for UK.

Since the Brexit deal, the pound has fallen 14%, UK has become the worst performing economy in the G7, and companies like Nissan and Dyson are moving their operations out of Britain. Brexit is likely to reduce immigration from European Economic Area (EEA) countries to the UK, and poses challenges for UK higher education and academic research.

The European Union is done negotiating with UK and on 29th March UK might be heading to an inevitable loss. Britain’s government has also issued several guidance documents for people instructing people about what to do if Britain leaves with no deal. Issues like medication, imported goods could be a grave dance if this happens. It was analyzed that with Brexit Britain’s economy would fall 3.9%, but with this ‘no-deal’ scenario it is expected to fall 9.3%.

However, there is good news as well, in December, 2018. Court of Justice of the EU ruled that the UK can revoke its intention to leave the EU. So, there is a ray of light in all this chaos. Teresa May can pass a referendum of getting back in the EU, she would face political backlash but it would save the UK. Now, voting for a referendum in UK takes 22 months, but UK is supposed to leave EU in 6 weeks. The situation is complex and the people don’t know much. The next few weeks will be crucial for Britain’s long term future.